Lagarde Hails 'Action Oriented' Aussies

[icyfroth]

Australia's "action oriented" presidency of the G20 has been praised by one of the most powerful women in the world.

Prime Minister Tony Abbott, Treasurer Joe Hockey and Reserve Bank Chief Glenn Stevens have been singled out by International Monetary Fund (IMF) managing director Christine Lagarde for making the international policy-fest work.

"They were instrumental in fostering effective and productive discussions, and I look forward to working with them further over the course of 2014," she told reporters on Sunday.

This is the first time the G20 Finance Ministers' meeting has been held while Australia holds the presidency and is it a major forerunner to the leader's meeting in November, to be held in Brisbane.

Ms Lagarde described Australia's presidency as "action oriented" following two days of discussions that led to agreements to boost global growth by two per cent above the IMF's current projected levels over the next five years.

This year the IMF predicts the global economy to grow by 3.7 per cent.

"We certainly have welcomed the focus on growth that the Australian presidency has identified as the rallying point for all economies, both advanced economies and emerging economies," she said.

"Because the Australian presidency is clearly action oriented, we will continue to act and we will certainly see to the fact that the G20 members identify those reforms, identify those actions, that are needed to deliver that two per cent objective."

Ms Lagarde said despite speculation to the contrary, a rift between emerging and advanced economies because of the effects of tapering stimulus in the US economy did not eventuate.

From Here

[lind9650]

What does the description of Australian Presidency mean?

I did not know we had a President in Australia.

Sorry, I am ignorant of the english language.

[windrake]

The person running and hosting the G20 is addrssed as the President.  duh

[lakeland27]

i recall the right wing megaphones berating this woman in the past, suddenly you like her ? she was being polite.. a week or two before she was extremely critical of this lot.

[lakeland27]

as for the G20 and hockey, ''we will grow the economy by billions , we'll provide milliions of jobs''  hockey is doing drugs the fruitcake.

[freakiness]

Isn't she the woman talking out of her hat?

Of course she is going to be polite about her hosts.  

But while Christine Lagarde, in Australia ahead of the weekend's Group of 20 finance minister's meeting, gave the Abbott administration a pat on the back in some areas, she also offered some advice for domestic growth.

Asked to comment on the government's move to end the “age of entitlement”, Ms Lagarde told ABC spending remains essential in some areas.

“Investing in health, investing in education, making sure that there are equal opportunities for all is something where public money is needed. It is not a question of entitlements,” she said. Ms Lagarde also championed public spending on large infrastructure projects, “where the return on investments is going to be years and years away”.

[windrake]

Ms Legarde is an economic giant on the world stage & her advice that spending should remain on education, health & infrastructure was excellent.

Ahem...isn't that what the government is doing?? the hip pocket  crying about their "entitlements going" well who pays for your "entitlements"?? the hard working taxpayers that's who.

Frankly the obscene waste that Rudd & Gillard indulged in is staggering,  the debt left behind workers have to pay down & still we are subject to the failed Labor MP's whinging all day on Sky news, giving "Press conferences" for whinging is deja vu for them. and the public. Haven't they learnt anything from their defeat?

Shorten is  weak and insincere, there are serious rumblings in Labor about him, can't cut through & people see through him.

[lakeland27]

rumble rumble . he won't need to be teddy roosevelt to unseat this monkey . .